Scholarship Giving for PA Businesses (EITC/OSTC)

Instead of sending your business tax dollars to Harrisburg, you can allocate this money to Bishop McDevitt High School to help support scholarships and tuition assistance. There are still funds available for businesses interested in applying for a tax credit under the Educational Improvement Tax Credit Program (EITC)and Opportunity Scholarship Tax Credit (OSTC) program. Contributions received via the EITC/OSTC program are used by McDevitt to provide scholarships and tuition assistance to students, all while giving your company a tax credit – truly a win/win situation.

Last year alone, 8 companies supported McDevitt through this increasingly valuable program, so we’d love for you to get on board!  Not sure if your company qualifies? If you pay any of the following taxes, you most likely qualify:

  • Corporate Net Income Tax
  • Capital Stock and Franchise Tax
  • Bank and Trust Company Shares Tax
  • Title Insurance Companies Shares Tax
  • Insurance Premiums Tax
  • Mutual Thrift Institutions Tax
  • Pass-through Entities
  • Personal Income Tax of S corporation shareholders or partnership partners

Deadlines to  Apply and Reapply

  • May 15 – Business applicants who have fulfilled their 2-year commitment and wish to renew their 2-year commitment.
  • May 15 – Businesses who are in the middle of their 2-year commitment.
  • July 1 – All other businesses
  Applying to become an EITC/OSTC contributing business is easy! Applications are submitted online via a single application. There’s no long paperwork to fill out or forms to be sent in.

 Steps to get a EITC or OSTC Tax Credit-

  1. Submit the Electronic Single Application. This one application is used when applying for either EITC or OSTC tax Credits.
  2. Await approval, which could take up to six weeks.
  3. Make donation to Bishop McDevitt.
  4. McDevitt  sends confirmation receipt to donor company.
  5. Donor company sends receipt back to State.
  6. Final confirmation letter from state is received and attached to company’s tax return.

If your business is filing for its second year of a two year commitment, or if you are a returning donor renewing or starting a new cycle with either program, you can file NOW.

If you are a new applicant for the EITC/OSTC programs, please fill out the online application and submit it on July 1st. Historically, all new funding is exhausted on July 1st, so it is imperative to submit the application on the first day.

 A handbook on how to apply for the EITC/OSTC programs is located Here.

  • When you’re ready to apply, visit the Application  page to get on board! Or Contact Kristin Conran at 215-887-5575 ext 256  or kconran@mcdevitths.org

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